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Office of Student Financial Services

The Office of Student Financial Services provides comprehensive information and services about how to finance your education at the Icahn School of Medicine at Mount Sinai (ISMMS). We offer various types of assistance and make all award decisions based on financial need, without regard to race, sex, color, creed, age, national origin, handicap, veteran status, marital status, or sexual orientation.

Financial Aid Assistance

We offer a wide range of financial assistance options, including fellowships, part-time employment (work-study programs and other opportunities), loans, and scholarships.

The aid that you receive depends on both your financial need and the availability of funds. We adhere to rigid criteria in awarding federal funds and award aid solely based on verified financial need, as determined using federally approved guidelines.

Thanks to generous gifts from many Alumni, parents of students, friends and trustees, ISMMS offers scholarships and institutional loans to students who qualify based on financial need. These scholarships and loans enable us to attract excellent students who might otherwise be unable to afford to attend. Student Financial Services administers these funds

Although we offer institutional scholarships and loans, unfortunately not every student is eligible. To determine your eligibility, we consider your expected family contribution or EFC. For us, the minimum EFC is $3000.

To be eligible for institutional aid, students must complete the following:

Students are always looking for funds that will replace the loans portion of their financial aid packages. The web has many sources of information about scholarship funds. When searching for scholarships use the key words “MD External Scholarships”, “Graduate Scholarships” or “Medical Scholarships.” Click below for helpful EXTERNAL SCHOLARSHIP resources. It is suggested to start researching for scholarships December – February. Most deadlines to submit completed scholarship applications are between March and May.

The Icahn School of Medicine is not directly associated with any of these organizations; however, we strongly urge all students to review this list of scholarships and loan forgiveness programs, and apply to those for which you appear eligible. This list was updated as of 2/2018.

The Federal Work Study Program is a federally funded work program which provides employment to eligible students with financial need, helping them to earn money to help pay education expenses. A FWS award is financial aid, and as with other types of financial aid, student eligibility is determined by the Financial Aid Office. FWS awards are granted on the basis of financial need. Students must have a federal aid application FAFSA completed before we can determine eligibility.

PLEASE NOTE: If you are a full-time student, we discourage you from seeking employment during the academic year, as it could interfere with your academic performance, particularly in the MD, Masters of Science in Biomedical Sciences (MSBS), and Masters in Genetic Counseling (MGC) programs.

Student Research

ISMMS offers a limited number of student research fellowships each summer, which the Medical Student Research Office (MSRO) handles. Much of the funding for these fellowships comes in the form of work-study grants.

ISMMS is a Direct Lending Institution. The maximum amount of Stafford loan varies for each academic program. Typically, we create a financial aid package for each applicant, based on the federally approved guidelines. Students can be eligible for the following federal loans:

Federal Unsubsidized loan - a student does not have to demonstrate financial need to be eligible for the loan

Federal Graduate Plus Loan – this is a credit based loans which means a credit check is required.

Students are eligible to take out financial aid up to their designated cost of attendance by program. Anything requested more than the allotted cost of attendance will require a budget increase request with proof of documentation. For more information, please contact the SFS Office

Official Withdrawal

Students who receive Title IV federal aid and officially withdraw from all courses prior to completing 60% of the academic term will have their federal financial aid pro-rated according to the Federal Return to Title IV (R2T4) refund calculation.

In accordance with federal regulations, students who totally withdraw from the Icahn School of Medicine at Mount Sinai and received Federal Title IV financial assistance (Perkins Loans, Direct Loans, or GradPlus Loans) will be subject to the Federal Refund Policy on the possible return of funds awarded. The amount of the semester’s unearned Federal Aid must be returned to its source. The amounts to be returned are based on the federal R2T4 refund calculation.

If a student has an account balance resulting from these adjustments, the student is responsible for payment.

Unofficial withdrawal

Students who withdraw from school without notification to the school (stop attending) will have their student loan refunds calculated by using the midpoint of the semester that the student stop attending or in the case of circumstances beyond the students control, the school will use the date related to that circumstance.

In the case where a student does not return from an approved leave of absence, does not notify the school, does not attend the next scheduled semester for which student is registered, students will be deregistered, tuition not charged, and federal students loans will not be disbursed.

Please be aware of our recommended deadline dates. All awards will be completed on a first come first serve basis. Those who hand in all required documentation by the deadline is guaranteed an on-time award before June 1st.